German discount hypermarket chain Kaufland has finalised investments of around 70 million euros in expansion this year, close to the cumulated value of its rivals' expansion budgets for 2010.
The operator has so far opened eight new stores, bringing them to an overall 53 stores, with the recruitment pace suggesting that the 2010 expansion will continue with at least 5 or 6 new stores in the second half of the year. Having been fuelled by a 150 million-euro loan from the EBRD last year, Kaufland's local investment budget could amount to nearly 130 million euros in 2010, twice as much as budgeted by all its rivals on the hypermarket segment. Moreover, the Germans are investing on the Romanian market more than they had in the 2008-2009 period that followed the peak expansion and consumption in the year Romania joined the European Union.
On the other hand, the other four hypermarket operators on the market - Carrefour, Real, Cora, and Auchan, have only one expansion project for this year. Their cumulated investments could amount to 80-90 million euros.
The retailer, held by LIDL & Schwartz group, has focused its openings on small, provincial towns this year, with less than 50,000 inhabitants, such as Mioveni, Reghin, and Campulung.
German discount hypermarket chain Kaufland has finalised investments of around 70 million euros in expansion this year, close to the cumulated value of its rivals' expansion budgets for 2010.
The operator has so far opened eight new stores, bringing them to an overall 53 stores, with the recruitment pace suggesting that the 2010 expansion will continue with at least 5 or 6 new stores in the second half of the year. Having been fuelled by a 150 million-euro loan from the EBRD last year, Kaufland's local investment budget could amount to nearly 130 million euros in 2010, twice as much as budgeted by all its rivals o
